Gulf Oil Wealth

Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the International Monetary Fund warned. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the IMF said in a study on “the future of oil and fiscal sustainability” in the region. …

VFA Terminated

Foreign Secretary Teodoro Locsin Jr. has signed the Philippines’ notice of termination of its Visiting Forces Agreement with the United States, the Department of Foreign Affairs announced on Tuesday. “On the order of the President through Executive Secretary Medialdea, Foreign Affairs Secretary Locsin signed today the notice of termination of the Visiting Forces Agreement, which will be delivered to the …